NEW YORK (AP) — Industrial distributor HD Supply Holdings on Thursday priced its initial public offering of stock at $18 per share, which could raise as much as $1.1 billion.

That's lower than the Atlanta company's original expectations. HD Supply said earlier in the month it expected to raise up to $1.3 billion, with shares priced between $22 and $25 each.

The company now plans to sell 53.2 million shares of common stock at $18 per share, which would generate proceeds of $957.4 million. It also granted the offering's underwriters a 30-day option to buy up to an additional 8 million shares, which would generate an additional $143.6 million in proceeds.

The shares were expected to begin trading later Thursday on the Nasdaq stock market under the ticker symbol "HDS."

HD Supply Holdings Inc. is the parent company of HD Supply Inc. It was formed in 2007 after a group of investors bought Home Depot Inc.'s former wholesale distribution business for $8.28 billion in cash and a 12.5 percent stake in the new company.

HD Supply provides a variety of products and services to about 500,000 customers in the maintenance, repair and operations, infrastructure and power and specialty construction sectors. Home Depot remains its largest customer and accounted for $296 million in revenue last year.

The company reported a loss of $543 million on revenue of $7.03 billion in its most recent fiscal year. It said it plans to use the proceeds from the IPO to repay debt.

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